The volume of sales in a given area is a powerful measure of the vitality of local housing markets. In the last two years there have been 1,845 sales in SK6. Semis accounted for the largest number of sales (742), followed by detached properties (490), then terraces (474) and flats accounted for the fewest sales (139).

Since the last quarter of 2013, average sales prices of detached properties in SK6 have increased by 20.7%, which represents the best performance of all property types. The next highest performers were semis, which saw an increase of 18.6%, followed by terraces (11.1%).

Each area of the country has a different demographic profile in terms of the age of local residents. The exact balance of age groups has a profound effect upon the demand profile of the local market. The average age in SK6 is 45 years old. This is higher than the North West average (39 years old) and higher than the national average (39 years).

The advent of broadband has dramatically altered our expectations about what we can do from the comfort of our own home. The ability to buy groceries, order a new dress, stream HD movies, make video calls and download files all at the same time has changed the way we think about where we live. With that in mind, it is no surprise that broadband speeds play an important role in house-hunters and landlords’ decisions when looking for new homes or buy-to-let properties.

Research by internet service provider KC suggests that three out of four people take broadband speeds into account when choosing a home. Rightmove certainly agree, with results of their recent survey indicating that people now value broadband speeds just as much as a property’s proximity to a good school or transport infrastructure.

Of course, out of everyone it is the younger generation who place the most emphasis on internet speeds, with Rightmove reporting that 18 to 35 year olds are influenced by how fast a connection is. Around half of this age bracket say they would reconsider a property if they found that the connection speed was inadequate for their needs.

As the world becomes ever smaller and more integrated via the web, there is a greater amount of people working from home instead of commuting to an office. ONS reports that the total figure of home-based workers in the UK is currently 4.2 million; nearly 14% of the entire UK workforce. In SK6, 5.8% of the workforce works from home, equivalent to around 1,370 people. Those who do work from home might not have to worry about the daily grind when commuting to work, but they will want to make sure their internet speed does not cause them a daily headache.

Even for those not working from home, broadband has become an essential part of everyday life. Video messaging services like Skype and FaceTime have changed the way we communicate, while live streaming of music and movies on sites like Spotify and Netflix has made the need for an uninterrupted internet connection that much more important.

A survey conducted for the Halifax showed that over 20% of people surveyed would be willing to pay more for a property with a fast broadband connection than for one without. Broadband provider Hyperoptic also recently found that people were willing to pay up to 11% more for a property with 100Mbps broadband speeds. Given the average property price in SK6 is £220,900, this equates to an additional £24,300. Hyperoptic also found that 60% of the people they spoke to said an internet connection was more important than having a garden, or good neighbours. These results just go to show what an important role superfast broadband plays in people’s lives.

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About the blog

This blog follows the property and buy to let market in Marple, The Bridge, Mellor and Compstall. You’ll find insight, commentary and analysis that relates specifically to SK6, along with the latest investment deals from all agents in the area.

jonathan hyde – co author

I have always worked in property and originally opened and head up Julian Wadden Marple. I am passionate about our area, so if you have any property related questions, whether buying, selling, letting out or just curious about what’s happening this very moment in the Marple, Marple Bridge, Mellor and Compstall property market then just pop into my office, alternatively call or e-mail me. I look forward to hearing from you and having a chat.

Jonathan Hyde

0161 427 0755
jonathanhyde@julianwadden.co.uk

alex bailey – co author

I am passionate about property and am fascinated by the ever-changing lettings market here in Marple and it’s surrounding area. If you have any questions about letting, current rental return or yields, tax and legal changes for landlords or anything else BTL related I would love to have a chat. So please pop into our office alternatively phone or e-mail me.